Money Worries Interview with KOMO Radio Seattle
CreditCards.com Senior Industry Analyst Matt Schulz spoke on Thursday, June 25, 2015, with Tom Hutyler of KOMO Radio Seattle about the results of the June 2015 Money Worries survey. The interview and transcript are below.
Tom Hutyler: If you’re losing sleep because of your financial situation, you’re not alone. More than half of us are, according to a new CreditCards.com report. Bankrate.com Senior Industry Analyst Matt Schulz is with me on the KOMO Newsline. Good morning Matt.
Matt Schulz: Good morning.
Hutyler: How many of us are tossing and turning over these financial issues?
Schulz: Well, our survey found that about 62% of Americans are losing sleep over at least one financial problem. And that’s down from 69% back in 2009 right in the middle of the Great Recession, but it’s up from 56% in 2007.
Hutyler: So there’s good new and bad news there. But is there a particular financial area of concern that we’re most worried about.
Schulz: Yeah retirement is the biggest worry, but worries about education expenses are growing really quickly and at this rate paying for school could soon be American’s biggest financial worry.
Hutyler: Yeah, college costs keep going up, don’t they? We had a guest on yesterday, talking about parents who are becoming a little bit more reluctant to pay for their children’s education or at least pay with some conditions attached. How does this breakdown age-wise, Matt?
Schulz: Well, the most likely to be concerned about education are Millennials and we found that about 50% of them were losing sleep over education costs. And when it comes to retirement those who are about 50-64 – so those who haven’t retired it, but it’s very close on the horizon – they’re the most likely to be losing sleep over retirement.
Hutyler: Is there a place that people could read this full report?
Schulz: Yeah, you can check out all the information about it at CreditCards.com.
Hutyler: Thanks so much, Matt. That’s Bankrate.com Senior Industry Analyst Matt Schulz joining us on the KOMO Newsline.